Nuvama starts India's R R Kabel with 'buy', cites demand growth and distribution reach
BUZZ-Nuvama starts India's R R Kabel with 'buy', cites demand growth and distribution reach ** Nuvama Research starts R R Kabel RRKA.NS with "buy" rating and 3,310 rupees PT, implying an 18.7% upside from the stock's last close
** Says, renewable energy, power transmission and distribution, data centres, EV charging infrastructure and real estate to power demand for RRKA's wires and cables
** Strong demand shall broadly absorb additional capacity of incumbents and new entrants over medium term; RRKA's substantial export presence to help navigate near-term headwinds from intense competition - Nuvama
** Adds, RRKA's extensive dealer and retail network is one of the largest in the industry
** 10 of 13 brokerages rate RRKA "buy" or higher, one "hold" and two "sell" or lower; median PT is 2,850 rupees - data compiled by LSEG
** Shares down nearly 3% at 2,708 rupees for the day; YTD, up 86.4%
(Reporting by Puyaan Singh in Bengaluru)
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